UGL director Kate Spargo will replace chairman Trevor Rowe who announced he will not stand for re-election at the company’s annual general meeting in October.
Mr Rowe joined the board of directors in September 2002 and was elected chairman in October 2003. After 11 years as chairman, Mr Rowe said it was an appropriate time for him to retire from the board.
“During my period as chairman of the Board, UGL has grown from an Australian based Engineering company with revenue of less than $1 billion to a multi-national diversified Engineering and Property company with revenues in excess of $4 billion,” he said.
“Kate Spargo has been a valuable addition to the UGL board and will provide strong leadership, stability and direction to UGL management and the Board as it embarks on this next phase of its journey.”
Ms Spargo was appointed to the UGL Board in October 2010. A former lawyer, she has worked in both private practice and government.
Ms Spargo also has significant international energy and infrastructure sector experience as a Director of both listed and unlisted companies including Pacific Hydro, SMEC Holdings and the Australian Energy Market Operator.
Ms Spargo thanked Mr Rowe for his leadership, commitment and contribution over this period of growth for UGL.
“Trevor has brought a wealth of corporate and financial expertise to the role of chairman of the UGL board, leading the company through a period of significant change culminating in the sale of DTZ.”
“I look forward to working with Trevor and my fellow directors over the coming months to ensure a smooth transition, including progressing the board’s renewal program.”
In other company moves, UGL said Dr Raymond Ch’ien would resign as a director of the board at the close of the 2014 Annual General Meeting. Dr Ch’ien was appointed as a director in September 2012.
“Due to an increase in a number of commitments, Raymond has indicated that he is no longer able to dedicate the time required to effectively discharge his duties as a director of UGL,” Mr Rowe said.
“On behalf of the Board, I would like to thank Raymond for the knowledgeable contribution and the wise counsel that he has made to the board during his tenure.”
Mr Rowe said UGL had appointed an independent consulting firm to assist with the board renewal program.